“Apparatchiks party on in Jackson Hole, Wyoming this week!”
It’s late August, and that means party time for the world’s movers and shakers
… grab the party hats and park the private jets, it’s time for Jackson Hole,
Wyoming … of course the Apparatchiks from the FED are going, what else would
they be doing in August? … look out Thursday & Friday for the avalanche
warnings of bullshit pouring out of the Grand Tetons, which by all reasonable
guesses will move markets.
We start the week with no news except of course the planted headlines from
Bloomberg and other corrupt financial MSM outlets, and the now ever present
“shifting goalposts” memes from the usual Libtard hacks in news media, where
my senses will get bombarded [for at least this week] with racy-ism and every
other “ism” they can dream up about anything … I learned long ago to give the
MSM the middle finger and walk away, but even then they’re like jock itch … no
pain but constant irritation.
Again today, the good trading action comes in the European morning, right after
the open … nothing really happening in Asia overnight, as they had a non
eventful session … a rather strange low in gold, though, [so far] as the market
hovered very near the low for a solid 15 minutes before moving higher … and as
we all know, markets love to give you the chance to buy the low don’t they? … go
walk the dog, make some coffee, we’ll wait for you, no problem … sure they will.
Today sees gold probe the low side of last Tuesday’s clusterfark $57 range … as I
said last week, when in September does either the high or low [or both] get
violated? … today so far looks to be whether or not gold can stay above 1500
… unless stocks catch fire again with another bullshit headline, which is a very
high probability given the FED’s desire to prop stocks up no matter what, gold
looks to be choppy the rest of the day here in New York … in other words, a
bullshit day in August, where the range and the day’s moves have come from
early Europe, and New York is its usual bucket of bat guano … “hey, I don’t make
the rules, it is what it is”.
Once again, I’ll point out the distinct difference in the way gold trades in Asia &
early Europe, before the financial Ebola virus known as New York gets going and
infects every “Hoover Dam” thing it touches … seriously, the world would be a
better place without the New York scumbag banks and their BFF the FED … this
is only the second day I’ve started my trading day at the European open, and both
days gold has been almost straight down, offering us no algorithm buying
opportunities while the day’s range gets expanded … close a couple of times,
but no signals … one of the problems gold has, just like the stock indices, is that
it moves soooooooooooooo fast at times, it leaves the algorithms in the dust
… the HFT’s and the scumbag banks have light years better computer systems
than we do, and at those times we are totally at their mercy for pricing … and
that’s not a good thing … throw in the bullshit stop hunts and the triple ‘’fuck
you’’ slippage you’re almost guaranteed to get, and on choppy days, and/or
‘’Flying Wedge of Death’’ [FWD] days, it’s gonna be tough getting the pricing
you need to beat the banks … nobody trades against other people anymore,
everybody is forced to trade against the scumbag banks, whether futures or
CFD’s makes no discernible difference.
And I got news for those of you who think limit buy/sell orders are the way to go
...guess again, cuz if the market goes through your limit price and the closing
order bank can’t get that price for you, they won’t do the honorable thing and fill
you, they fill you at the next available price in the system … the next offer if
you’re attempting to buy or the next bid if you’re attempting to sell … and that
can mean getting a fill far away from what you thought … this has happened to
me twice in the last 3 years, and I’ve gotten hosed both times with off the market,
terrible fills on a limit order … and all the bank will say, is that you agreed to this
when you opened your account, and now STFU and leave us alone. So, your limit
order is nothing more than a ‘’market if touched’’ order, cuz bottom line is they
aren’t going to be held responsible for any order you put into the system, whether
it’s for the GBPUSD, DOW30, and/or XAUUSD … the game is for their benefit, not
yours.
Over the weekend, I got a lot of work done on the 3 trading courses we’ll be
offering to the public in a few weeks … 1] spot gold, XAUUSD, 2] GBPUSD, and
3] DOW30 … they are each unique, separate, and distinct from each other and are
‘’stand alone’’ … whether you are a scalper, day trader, or like to position trades
during the week [never hold positions over the weekend], the courses will give
you everything you need to know to be profitable over time … of course, I assume
some basic knowledge of trading, like what a bid or offer is, and/or what is a
‘’stop’’ order, but everyone from beginner Newbie to hardened veteran can get on
the correct path to profits … more in the days ahead.
Noon in New York, and gold has devolved into a bucket of slop … if this holds up
to the close, we’ll end up with a New York session range that is approximately 50%
of its 20 Day Range MA … quite frankly pitiful, compared to what the other
sessions are doing, but when your work is purely to screw people, what do you
expect？
One algorithm buy signal today … PAMM UP a few bucks.
Not a great signal, simply cuz of the way the market shook out coming off the low,
but it is what it is … after the signal, minutes later we’re in the New York session,
and things have turned to shit here pretty quick, and the proprietary components
of our algorithm have collapsed as the market drifts in a very tight and choppy
range … hurry up and wait for Jackson Hole seems to be the message. Europe
closed now, and unless there’s a surprise Trump tweet, or other earth shattering
news [planted or otherwise] that hits the tape, I’d be surprised if gold moves two
bucks the rest of the day.
Onto tomorrow, where we’ll see if markets improve or not … until then mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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